EUR/USD holds below initial res, seen at $1.3100 to $1.3115, all which capped Friday’s topside. Daily studies have slipped and may reverse lower, weekly studies are mixed but monthly studies slide. Failure at key initial res again should open the downside and new initial supp around $1.3030-34.
R 4: $1.3279/86/95 Low Jun 13, Daily Bollinger band top, Low Jun 14
R 3: $1.3228 50.0% of $1.3711-1.2746
R 2: $1.3181/3200/07 Res line from Jun 19, High Apr 17, High Jul 10
R 1: $1.3100-15 High Jul 12, High Jun 28, 38.2%
Latest price: $1.3070
S 1: $1.3030/32/34 100-DMA, Jul 3 high
S 2: $1.2981/85/98 Low Jun 26, High May 22 & 5-DMA
S 3: $1.2923-46 Low Jul 3, 55-wk MA, Jul 2012 Supp line
S 4: $1.2877/83 50.0% of $1.2043-1.3711, Low Jul 4
GBP/USD pares some of the large gains made towards the end of last week while daily studies become muted. The pair moved above $1.5200 on Thursday but closed below, we see Jul 11 high as key initial res at $1.5222 and initial support is around $1.5035-58. Monthly studies still bearish but wkly studies may turn higher, we continue to note potential double-bottom on monthly chart, bulls need break above $1.5752 to confirm.
R 4: $1.5326 55-DMA
R 3: $1.5281/83 High May 20
R 2: $1.5245/51/64 Sup line from May 29 low, 21-DMA, 100-DMA
R 1: $1.5222 High Jul 11
Latest price: $1.5115
S 1: $1.5035/49/58 5-DMA
S 2: $1.5009/18 Low May 29, High Jul 10
S 3: $1.4966/68 High Jul 8, Monthly Bollinger band base
S 4: $1.4832/45/55 Reversal low Mar 12th, Low Jul 10
USD/JPY now trades above the daily Ichimoku cloud, the top forms initial support at Y99.06 alongside the hourly low at Y99.08. Daily and weekly studies remain bearish while monthly studies appear to be reversing from overbought levels. A break below initial supp tests Y98.71/76. However, failure to move back within the cloud could test initial res at Y99370.
R 4: Y101.39/45/53 Reversal high Apr 2009, High Jul 8
R 3: Y100.77/79 Low Jul 9, May 9 high
R 2: Y99.90/94/95 High Apr 22 & Dly Tenkan, High Apr 11
R 1: Y99.70 23.6% of Y93.79-101.53
Latest price: Y99.22
S 1: Y99.06/08 Daily Ichimoku cloud top, Hourly low
S 2: Y98.71/76 21-DMA, Weekly Tenkan
S 3: Y98.57 38.2% of Y93.79-101.53
S 4: Y98.10/15/27 100-month MA, Ichimoku cloud base, Low Jul 11
EUR/JPY still in the rising channel but bears fail to break below and now trades above daily Ichimoku top, at Y129.56 but eur-yen already broke below. Studies a little bearish and monthly studies look overbought, initial support at Y123.39/44. A break below here targets supp around Y128.91-98. Initial res is around Y130.33-43.
R 4: Y132.77/87 High May 14, High May 23
R 3: Y132.04/08 50.0% of Y169.96-Y94.12, May 31 high
R 2: Y131.04/12 Daily Bollinger band top, High Apr 11
R 1: Y130.33/42/43 May 8 high, High Jul 11
Latets price: Y129.67
S 1: Y123.39/44 Weekly Tenkan line, Daily Tenkan line
S 2: Y128.91/93/98 21-DMA & Rising channel base, High May 1, Low May 8
S 3: Y128.40/45 200-month MA, High Jun 26
S 4: Y128.08/12/15/19 Highs Jun 18, 14, Daily Kijun